13-1398. Same; bonds lien upon revenue, recitals; verity; negotiability; outside bonded debt limitations.
13-1398
13-1398. Same; bonds lien upon revenue, recitals; verity;
negotiability; outside bonded debt limitations.
Such revenue bonds are hereby made a lien on the revenue produced from
the operation of such swimming pools and golf courses but shall not be
general obligations of the issuing board and not contain the recital set
forth in K.S.A. 10-112 or any amendment thereof, but shall contain recitals
stating the authority under which such bonds are issued; that they are
issued in conformity with the provisions, restrictions and limitations of
that authority and that such bonds and the interest thereon are to be paid
by the issuing board from the revenues derived from the fees, rates or
charges herein mentioned and not from any other fund or source; that the
same have been registered in the office of the clerk of the issuing
municipality and the auditor of the state of Kansas respectively and that
said bonds are negotiable. All such bonds, when registered and issued as
herein provided, shall import absolute verity and shall be conclusive in
favor of all persons purchasing such bonds; that all proceedings and
conditions precedent have been held and performed to authorize the issuance
thereof and such bonds shall be negotiable and shall be issued in addition
to the statutory limits of bonded indebtedness of the issuing board or
municipality.
History: L. 1967, ch. 110, § 4; July 1.